Frequently Asked Questions
What is Refund Advance?
The Refund Advance is a no- interest loan that is repaid with your tax refund. It's available from Jan. 2, 2023 to Feb. 28, 2023, to Tucker's Affordable Tax Services Refund clients by MetaBank®, N.A. Member FDIC, and Refund Advance Loan from Refund Advantage for $250, $500, or $1,000 carries a 0% APR. Certain Refund Advance Loans are available at no cost to taxpayers, however other options include a consumer fee. For Refund Advances of $1,250 or more - the loan carries a 36% APR. Here is what that means...
What is prequalification? This process provides you with an opportunity to see if you prequalify to apply for the Refund Advance loan. MetaBank, the lender for Refund Advance, will evaluate whether you are eligible to apply for the Refund Advance loan based in part on your tax situation from last year and specific eligibility criteria determined by the bank. This offer is not guaranteed, so if your tax situation or other relevant inputs change, your prequalification to apply could change. By going through the prequalification process, you are not applying for the Refund Advance loan; you must still pass the eligibility criteria and apply when you file your tax return. |
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What are the Criteria for approval?You first must meet certain eligibility requirements such as e-filing a tax return at Tucker's Affordable tax Services office, expecting a sufficient refund by the IRS, and provide appropriate identification. You then submit an application to MetaBank, the lender. The bank will evaluate your application based on standard underwriting criteria and decides to approve or deny your application.
How quickly will I get the money if I am approved? If your application is approved, in most cases, the funds will be available the same day you apply for the Refund Advance. |
How do I repay Refund Advance if I am approved?Pay Nothing Out-Of-Pocket the Day You File
Don’t want to pay for tax prep out-of-pocket? We understand. That’s why we offer the Refund Transfer. Refund Transfer Convenience and Secured With Refund Transfer, you can pay your tax preparation fees and other authorized amounts from your refund. Plus, choose direct deposit for a convenient, secure way to get your tax refund. When filing your taxes with us, you can use Refund Transfer to set up an FDIC-insured Refund Account to receive your refund. Once your tax refund is received, payments you authorize (such as tax preparation and related fees) will be made from your Refund Account, and the remaining funds are then sent to you direct deposit or check. No fees are collected until all services are complete. Options for Your Tax Refund Transfer You can choose to receive your tax refund transfer in a number of different ways. You can choose disbursement by check, Prepaid Card, Direct Deposit to an existing account. FEDERAL REFUND TRANSFER The price of a Federal Refund Transfer is $59.90. PAPER CHECK FEE $29.95 additional fee for disbursement to a paper check. When Your Refund Is Ready The IRS issues most refunds within 21 days after IRS acceptance. How will you know when it’s here? We’ll send you a text alert or an email straight to your inbox. |
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